Moody's cuts Hungary's rating to Ba1

SarahTurner

SYDNEY (MarketWatch) -- Moody's Investors Service said late Thursday that it has downgraded Hungary's government bond rating one notch to Ba1 while retaining a negative outlook on the bonds. Moody's said that key elements of the decision to downgrade included "rising uncertainty surrounding the country's ability to meet its medium-term targets for fiscal consolidation and public sector debt reduction" as well as "increased susceptibility to event risk" given external market volatility.

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